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<p>[QUOTE=&quot;-jeffB, post: 8091130, member: 27832&quot;]As I understand it, a &quot;wallet&quot; is just a place to keep the private key associated with your crypto <i>address</i> (which is like an email address); the other piece of the address is the <i>public</i> key that people use to transfer crypto to your address, or that identifies you when you send crypto to them. This doesn&#039;t <i>have</i> to be associated with your actual identity, although I think most wallet &quot;services&quot; do so to stay on the good side of law enforcement.</p><p><br /></p><p>I&#039;m skeptical about how high any <i>particular</i> crypto will go, but I think some forms of crypto will be with us for the long term, possibly longer than the current US dollar. (Or, more likely, the US dollar&#039;s <i>implementation</i> will eventually shift to something backed by a form of crypto.)</p><p><br /></p><p>If I ever move into crypto in a big way, I&#039;m going to want to manage my own &quot;wallet&quot;, thank you very much. There are well-known cryptographic methods to take a secret and break it up into an arbitrary number of parts, where some subset is enough to reconstitute the original secret. So, I could store a secret in five different chunks, saved in five different places, where any three chunks are enough to recover the secret. I like that a <i>lot</i> better than &quot;oops, Mt. Gox got hacked, your crypto balance is now <i>entirely</i> imaginary&quot;, or even &quot;there went 20% of your wealth&quot;. Instead, it would be &quot;oops, someone got one chunk of my distributed key, time to generate a new distributed hash and update the other four spots, plus find a new spot for the fifth chunk&quot;.[/QUOTE]</p><p><br /></p>

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